vs
PG&E Corporation（PCG）与Sunoco LP（SUN）财务数据对比。点击上方公司名可切换其他公司
Sunoco LP的季度营收约是PG&E Corporation的1.2倍（$8.6B vs $6.9B），PG&E Corporation净利率更高（12.9% vs 1.2%，领先11.7%），Sunoco LP同比增速更快（63.2% vs 15.0%），过去两年Sunoco LP的营收复合增速更高（25.1% vs 7.2%）
PG&E Corporation是美国由投资者持有运营的公用事业企业，总部坐落于加利福尼亚州奥克兰市凯撒中心，为加州北部三分之二区域的520万户家庭提供天然气与电力供应服务，服务范围涵盖贝克斯菲尔德、圣巴巴拉县北部，几乎延伸至俄勒冈州与内华达州的州界。
Sunoco LP是总部位于美国得克萨斯州达拉斯的业主有限合伙企业，在特拉华州注册成立，历史最早可追溯至1886年。公司最初为垂直一体化能源企业，现已转型为燃油分销商及能源基础设施运营商，此前曾涉足油气勘探开采、炼化、化工生产及燃油零售业务，目前上述业务均已剥离。
PCG vs SUN — 直观对比
营收规模更大
SUN
是对方的1.2倍
$6.9B
营收增速更快
SUN
高出48.2%
15.0%
净利率更高
PCG
高出11.7%
1.2%
两年增速更快
SUN
近两年复合增速
7.2%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.9B | $8.6B |
| 净利润 | $885.0M | $101.0M |
| 毛利率 | — | 10.7% |
| 营业利润率 | 21.4% | 2.1% |
| 净利率 | 12.9% | 1.2% |
| 营收同比 | 15.0% | 63.2% |
| 净利润同比 | 39.6% | -28.4% |
| 每股收益（稀释后） | $0.39 | — |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收PCGSUN
| Q1 26 | $6.9B | — | ||
| Q4 25 | $6.8B | $8.6B | ||
| Q3 25 | $6.3B | $6.0B | ||
| Q2 25 | $5.9B | $5.4B | ||
| Q1 25 | $6.0B | $5.2B | ||
| Q4 24 | $6.6B | $5.3B | ||
| Q3 24 | $5.9B | $5.8B | ||
| Q2 24 | $6.0B | $6.2B |
净利润PCGSUN
| Q1 26 | $885.0M | — | ||
| Q4 25 | $670.0M | $101.0M | ||
| Q3 25 | $850.0M | $133.0M | ||
| Q2 25 | $549.0M | $86.0M | ||
| Q1 25 | $634.0M | $207.0M | ||
| Q4 24 | $674.0M | $141.0M | ||
| Q3 24 | $579.0M | $2.0M | ||
| Q2 24 | $524.0M | $493.0M |
毛利率PCGSUN
| Q1 26 | — | — | ||
| Q4 25 | — | 10.7% | ||
| Q3 25 | — | 10.7% | ||
| Q2 25 | — | 10.6% | ||
| Q1 25 | — | 12.6% | ||
| Q4 24 | — | 11.9% | ||
| Q3 24 | — | 7.4% | ||
| Q2 24 | — | 9.2% |
营业利润率PCGSUN
| Q1 26 | 21.4% | — | ||
| Q4 25 | 18.0% | 2.1% | ||
| Q3 25 | 19.3% | 4.2% | ||
| Q2 25 | 18.6% | 3.8% | ||
| Q1 25 | 20.4% | 5.7% | ||
| Q4 24 | 15.4% | 4.5% | ||
| Q3 24 | 17.3% | 1.9% | ||
| Q2 24 | 18.9% | 2.4% |
净利率PCGSUN
| Q1 26 | 12.9% | — | ||
| Q4 25 | 9.8% | 1.2% | ||
| Q3 25 | 13.6% | 2.2% | ||
| Q2 25 | 9.3% | 1.6% | ||
| Q1 25 | 10.6% | 4.0% | ||
| Q4 24 | 10.2% | 2.7% | ||
| Q3 24 | 9.7% | 0.0% | ||
| Q2 24 | 8.8% | 8.0% |
每股收益（稀释后）PCGSUN
| Q1 26 | $0.39 | — | ||
| Q4 25 | $0.29 | — | ||
| Q3 25 | $0.37 | — | ||
| Q2 25 | $0.24 | — | ||
| Q1 25 | $0.28 | — | ||
| Q4 24 | $0.30 | — | ||
| Q3 24 | $0.27 | — | ||
| Q2 24 | $0.24 | — |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | — | $891.0M |
| 总债务越低越好 | — | $13.4B |
| 股东权益账面价值 | — | — |
| 总资产 | — | $28.4B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资PCGSUN
| Q1 26 | — | — | ||
| Q4 25 | $713.0M | $891.0M | ||
| Q3 25 | $404.0M | — | ||
| Q2 25 | $494.0M | — | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $940.0M | $94.0M | ||
| Q3 24 | $895.0M | — | ||
| Q2 24 | $1.3B | — |
总债务PCGSUN
| Q1 26 | — | — | ||
| Q4 25 | $57.4B | $13.4B | ||
| Q3 25 | — | $9.5B | ||
| Q2 25 | — | $7.8B | ||
| Q1 25 | — | $7.7B | ||
| Q4 24 | $53.6B | $7.5B | ||
| Q3 24 | — | $7.3B | ||
| Q2 24 | — | $7.3B |
股东权益PCGSUN
| Q1 26 | — | — | ||
| Q4 25 | $32.5B | — | ||
| Q3 25 | $32.0B | — | ||
| Q2 25 | $31.2B | — | ||
| Q1 25 | $30.7B | — | ||
| Q4 24 | $30.1B | — | ||
| Q3 24 | $26.8B | — | ||
| Q2 24 | $26.3B | — |
总资产PCGSUN
| Q1 26 | — | — | ||
| Q4 25 | $141.6B | $28.4B | ||
| Q3 25 | $138.2B | $17.8B | ||
| Q2 25 | $136.4B | $14.4B | ||
| Q1 25 | $135.4B | $14.3B | ||
| Q4 24 | $133.7B | $14.4B | ||
| Q3 24 | $132.3B | $14.1B | ||
| Q2 24 | $130.8B | $14.5B |
负债/权益比PCGSUN
| Q1 26 | — | — | ||
| Q4 25 | 1.76× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.78× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | — | $392.0M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | — | 3.88× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流PCGSUN
| Q1 26 | — | — | ||
| Q4 25 | $2.0B | $392.0M | ||
| Q3 25 | $2.9B | $401.0M | ||
| Q2 25 | $1.1B | $243.0M | ||
| Q1 25 | $2.8B | $156.0M | ||
| Q4 24 | $1.9B | $123.0M | ||
| Q3 24 | $3.1B | $210.0M | ||
| Q2 24 | $711.0M | $-70.0M |
自由现金流PCGSUN
| Q1 26 | — | — | ||
| Q4 25 | $-1.2B | — | ||
| Q3 25 | $-80.0M | $244.0M | ||
| Q2 25 | $-2.0B | $83.0M | ||
| Q1 25 | $213.0M | $55.0M | ||
| Q4 24 | $-896.0M | — | ||
| Q3 24 | $526.0M | $109.0M | ||
| Q2 24 | $-1.6B | $-140.0M |
自由现金流率PCGSUN
| Q1 26 | — | — | ||
| Q4 25 | -17.6% | — | ||
| Q3 25 | -1.3% | 4.0% | ||
| Q2 25 | -34.0% | 1.5% | ||
| Q1 25 | 3.6% | 1.1% | ||
| Q4 24 | -13.5% | — | ||
| Q3 24 | 8.9% | 1.9% | ||
| Q2 24 | -26.5% | -2.3% |
资本支出强度PCGSUN
| Q1 26 | — | — | ||
| Q4 25 | 46.4% | — | ||
| Q3 25 | 46.9% | 2.6% | ||
| Q2 25 | 52.0% | 3.0% | ||
| Q1 25 | 44.0% | 2.0% | ||
| Q4 24 | 42.6% | — | ||
| Q3 24 | 43.8% | 1.8% | ||
| Q2 24 | 38.4% | 1.1% |
现金转化率PCGSUN
| Q1 26 | — | — | ||
| Q4 25 | 2.93× | 3.88× | ||
| Q3 25 | 3.35× | 3.02× | ||
| Q2 25 | 1.93× | 2.83× | ||
| Q1 25 | 4.49× | 0.75× | ||
| Q4 24 | 2.87× | 0.87× | ||
| Q3 24 | 5.41× | 105.00× | ||
| Q2 24 | 1.36× | -0.14× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
PCG
| Electric | $5.0B | 72% |
| Other | $1.9B | 28% |
SUN
| Fuel Distribution | $8.2B | 95% |
| Service Revenue | $440.0M | 5% |
| Lease Revenue | $40.0M | 0% |
| Lease Income | $12.0M | 0% |
